The overall market in the morning shows a trend of oscillation, decline, and recovery. Bitcoin faced resistance around 70,400 and gradually declined. During the session, the price continued to oscillate downward, with a low of around 69,200 before the bulls gradually took over. Currently, it is consolidating around 69,500. Overall, the morning decline is more of a short-term structural adjustment and not a trend reversal.

From the chart perspective, Bitcoin's four-hour timeframe still maintains a range-bound oscillation pattern, with the 69,000 level forming a key support zone. The morning pullback did not break the support area; instead, it gradually showed signs of stabilizing at the lows. Therefore, the trading strategy remains to be cautiously long on dips.

Bitcoin retraced around 69,100-68,300, with potential to rise to 70,800-72,800.
Altcoins retraced around 2,010-1,970, with potential to rise to 2,080-2,160.